Risk Manager

Definition - What does Risk Manager mean?

A risk manager is a business professional who assess risks for a company and attempts to limit them. The goal of doing this is to try to prevent the company form experiencing major losses. In the context of insurance, effective insurance coverage is one of the main ways that risk managers try to prevent companies from losing money.

Insuranceopedia explains Risk Manager

In addition to insurance, risk managers may also try to make sure that the company is practicing effective safety procedures, and making sound financial decisions. Risk managers can be extremely helpful to companies because they help to prevent unnecessary losses. A single insurance coverage gap could possibly result in hundreds of millions of dollars in losses for large companies. So having a professional to look out for these coverage gaps and other hazards can really help companies.